2019 Vault Rankings

Allen & Company LLC at a Glance

The Buzz

"Good in its niche market, but small and not an important player in the big picture"

"For such a secretive company (they don't even have a website), they have done a great job of building a brand"

"Inconsistent quality: prestigious name partner and a couple others"

About Allen & Company LLC

How is Allen & Company unlike other banks? Let us count the
ways: It has no website, no barrage of press releases touting
recent deals, no sprawling menu of financial services, no research
division, no employment contact, and no formal recruiting process.
What Allen & Company does have is a platinum reputation and
serious mystique, earned over nearly nine decades of
semi-secretive, exclusive advisory and wealth management work with
some of the biggest names in corporate America. The firm is an
institutional broker and money manager for high-net-worth
individuals, including the founding Allen family; it also provides
M&A, underwriting, and related advisory services.

Most of Allen & Company's clients hail from the media,
sports, entertainment, communications and technology sectors-this
tiny boutique was a player in Google's 2004 initial public
offering. It's also been behind the scenes of such headline-worthy
deals as Time Warner/Comcast's purchase of Adelphia, the Disney/ABC
tie-up and the 20-year, $400 million deal that gave Citigroup
naming rights to the Mets ballpark.

But Allen & Co.'s closest ties are to Coca-Cola, thanks to a
relationship that dates back to 1982. Then-CEO Herbert Allen had
bought a controlling stake in Columbia Pictures in 1973 (he paid
just $4 per share for the legendary studio). In 1982, Coke bought
Columbia, paying a whopping $750 million. Allen pocketed $45
million and earned himself a seat on the Coke board; the marquee
deal also catapulted Allen & Company into the upper echelons of
i-banking, helping it win a number of prestigious clients.

Since its first deal with Coke Allen & Co. has done several
subsequent deals and underwriting assignments for the soft drink
giant and its affiliates, raking in millions of dollars in advisory
fees. The Allen family still owns a chunk of Coke shares and
there's been some boardroom back-and-forths, too: Coke president
Donald Keough became chairman of Allen & Co., and his son
Clarke joined the bank's institutional sales group.

As for its staff, Allen & Company's managing directors have
included former U.S. Senator Bill Bradley; George Tenet, the former
director of the CIA; Priceline.com director (and media M&A
powerhouse) Nancy Peretsman; and Steve Greenberg, former Major
League Baseball deputy commissioner.